Market news and trade recommendations by FBS

[riki143]

Forex Analytics

EUR/USD: "double bottom" led to the correction
29 March 2016
Sergey Logachev

There was a flat, which finally was ended by the bullish rally towards a resistance at 1.1217. Previously, a reversal “Double Bottom” pattern has been formed. It’s likely to see the market lower in the short term. The target support is an area between the 34 Moving Average and the level at 1.1156. If a pullback appears somewhere from here, then we will have an opportunity to see a rise towards a resistance area at 1.1245 – 1.1273.

As we can see on the one-hour chart, the last “Pennant” was finally ended up by the upward movement. The price faced a resistance at 1.1217, which led to the current decline. It’s likely that the market is going to reach a support at 1.1157. If bears be stopped here, then bulls will probably try to achieve a resistance area at 1.1217 – 1.1237.

More:
https://fxbazooka.com/en/analitycs/show/8417

 

[riki143]

Forex Analytics

GBP/USD: bulls stopped by the resistance
29 March 2016
Sergey Logachev

The last flat has been ended by the bullish rally. Finally, buyers faced a resistance at 1.4282, which brought a “V-Top” pattern and led to the current decline. It’s likely that the pair is going to reach a support area between the 34 Moving Average and the level 1.4182. If we see a pullback, then a rise becomes possible, so we should keep an eye on a support area at 1.4305 – 1.4343.

We’ve got a “Pennant”, which was ended yesterday. Bulls faced a resistance at 1.4282, so a “Double Top” pattern was delivered. It’s likely that the price is going to reach a support area at 1.4193 – 1.4182, but if a pullback appears afterwards, then bulls will have a chance to achieve a resistance area at 1.4305 – 1.4343.

More:
https://fxbazooka.com/en/analitycs/show/8418

 

[riki143]

Forex Analytics

AUD/NZD: sell target - 1.1100
29 March 2016
By: Dmitriy Chernovolov

-AUD/NZD reversed from pivotal resistance level 1.1300
-Next sell target - 1.1100

AUD/NZD continues to fall after the price earlier reversed down sharply from the resistance zone surrounding the pivotal resistance level 1.1300 (which has been reversing the price from June of last year, as can be seen from the daily AUD/NZD chart below). The last two downward reversals from this resistance level created the two consecutive Japanese candlesticks reversal patterns – Bearish Engulfing and Dark Cloud Cover.

With the clear bearish divergence visible on the daily RSI indicator - AUD/NZD can be expected to fall further from the current levels toward the next sell target at the pivotal support level 1.1100 (former resistance level which stopped the minor impulse wave 1 in November).

More:
https://fxbazooka.com/en/analitycs/show/8424

 

[riki143]

Forex Analytics

CHF/JPY: buy target – 117.50
29 March 2016
By: Dmitriy Chernovolov

-CHF/JPY broke resistance zone
-Next buy target – 117.50

CHF/JPY continues to rise after the price earlier broke through the resistance zone lying at the intersection of the pivotal resistance level 116.00 (which stopped the previous minor (a)-wave earlier this month, as can be seen below) and the 38.2% Fibonacci correction of the previous downward impulse wave from the end of December. The breakout of this resistance zone accelerated the active (c)-wave of the minor ABC correction 4 from the start of this month.

CHF/JPY is likely to rise in the active minor (c)-wave toward the next buy target at the resistance level 117.50 (lying at the intersection of the daily down channel from 2015 and the 50% Fibonacci correction of the aforementioned downward impulse from December).

More:
https://fxbazooka.com/en/analitycs/show/8426

 

[riki143]

Forex Analytics

EUR/USD: bears faced a "harami"
29 March 2016
Galina Svetlova

The price finally got a support on the nearest “Window”, which led to form a “Tweezers” pattern afterwards. There’s a “Shooting Star” at the last high, so the market is likely going to be lower. As we can see on the Daily chart, here’s an “Engulfing Bullish” pattern, so the local upward correction has a reason to be continued.

The pair reached a support by the “Window” and tasted the upper resistance afterwards, so now the market backed to the range. We’ve got a “Harami” at the local high and the following “Three Method” pattern, which confirms the possibility of further declining. It’s likely that the price is going to reach the nearest “Window” once again.

More:
https://fxbazooka.com/en/analitycs/show/8427

 

[riki143]

Forex Analytics

USD/JPY: more bullish pressure
29 March 2016
Galina Svetlova

The bullish movement is still the main direction. Moreover, we’ve got a couple of “Three Methods” patterns, so in the short term the market is likely going to be higher towards the nearest resistance line. As we can see on the Daily chart, there isn’t any reversal pattern so far, which gives bulls a path to form a white candle today.

The price has been rising last days. There’s a “Three Methods” pattern at the last high, but if the pair be stopped on the nearest resistance, then it’ll be a chance to see a local correction. If any of the Moving Averages acts as a support, then bulls can resume their rally.

More:
https://fxbazooka.com/en/analitycs/show/8428

 

[riki143]

Forex Analytics

EUR/USD: bulls faced the "Triple Top"
30 March 2016
Sergey Logachev

The pair has been rising since a “Double Bottom” pattern arrived at the last low. The price found a resistance in a range between the levels 1.1273 and 1.1341. It’s likely that the market is going to reach the nearest support line. If a pullback appears, then bulls will probably try to achieve a resistance area at 1.1341 – 1.1376.

As we can see on the one-hour chart, the last “Flag” was finally ended by the extremely fast bullish rally. Buyers faced a resistance at 1.1306, which led to the current local flat. It’s likely that the pair is going to test a support area at 1.1284 – 1.1259, but if this possible correction be stopped somewhere in here, then bulls will likely open a new stage on their rally. If so, a resistance area at 1.1336 – 1.1341 is going to be achieved soon.

More:
https://fxbazooka.com/en/analitycs/show/8433

 

[riki143]

Forex Analytics

AUD/USD: buy target - 0.7800
30 March 2016
By: Dmitriy Chernovolov

-AUD/USD approached buy target 0.7700
-Next buy target - 0.7800

AUD/USD has been rising in the last few trading sessions inside the (b)-wave of the minor C-wave, which belongs to the intermediate ABC correction (2) from the middle of January. The active (b)-wave started earlier – when the price reversed up from the support zone lying between the support level 0.7500 and the 38.2% Fibonacci correction of the previous sharp upward impulse wave from the end of February.

AUD/USD today approached the resistance level 0.7700 (previous buy target set in our earlier forecast for this currency pair). If the price breaks above 0.7700 - AUD/USD can then rise to the next buy target at the next resistance level 0.7800 (target price for the completion of the active C-wave).

More:
https://fxbazooka.com/en/analitycs/show/8436

 

[riki143]

Forex Analytics

EUR/USD: "Mat Hold" is in progress
30 March 2016
Galina Svetlova

The price has been rising since a “Tweezers” formed on last Friday. It’s likely that we have a “Mat Hold” pattern in progress. The upper resistance is still on the table. As we can see on the Daily chart, there’s an “Engulfing Bullish” at the last low. Yesterday’s candle broke the 144 Moving Average line, so today's candle is probably going to be bullish as well.

There're a “Morning Star” and an “Engulfing Bullish”, which led to the current upward movement. A reversal “Deliberation” pattern hasn't been confirmed. We haven’t got any reversal pattern so far and it’s an opportunity for buyers to go on until any bearish pattern arrives.

More:
https://fxbazooka.com/en/analitycs/show/8437

 

[riki143]

Forex Analytics

Forex trading plan for March 31
30 March 2016
By Elizabeth Belugina

US dollar index returned to 8-month lows, where it fell after the Federal Reserve’s March meeting as Janet Yellen said that the Fed should be cautious in raising rates because of external risks including low oil prices and slower growth abroad. Chicago Fed President Charles Evans followed the same line on Wednesday.On Thursday we’ll hear from New York Fed president Dudley at 09:00 GMT. Dudley tended to be mildly dovish, will his comments echo those of Yellen? According to ADP employment report, the number of employed people rose by 200K in March vs. the forecast of 195K increase, though the previous reading was revised down from 214K to 205K. The release was mildly positive for the greenback.

EUR/USD met resistance at 1.1340. Finally, there will be news from the euro area. Watch German retail sales at 06:00 GMT and the regions flash inflation figures at 09:00 GMT (better forecasts). Support is at 1.1250/15. Above 1.1340 there may be a rally to 1.1375, 1.1400 and even 1.1460.

The Bank of England’s Governor Mark Carney will speak at 07:00 GMT. The pound looks vulnerable as the latest opinion polls showed the number of Brexit supporters increased further. Moreover, Carney will probably not welcome high levels of British currency. Also watch British current account and final GDP at 08:30 GMT. Resistance for GBP/USD is at 1.4435/50 and 1.4500. Support is at 1.4350 and 1.4285.

USD/JPY tested 112.00, but then recovered to 112.50. Japanese industrial production fell by 6.2% in February. This is the biggest decline since March 2011 earthquake. More weak data are expected from Japan later this week. The pair could recover to 113.00. Next resistance is at 113.50.

AUD/USD ran into resistance at 0.7700 and is vulnerable for correction to 0.7600/7590. Next support is at 0.7530. Canadian January GDP is due at 12:30 GMT. USD/CAD has support at 1.2975, but below may slide to 1.2830. Resistance is at 1.3130.

More:
https://fxbazooka.com/en/analitycs/show/8442

 

[riki143]

Forex Analytics

EUR/USD: "V-Top" frightened the bulls away
31 March 2016
Sergey Logachev

The price faced a resistance at 1.1341, which brought a “V-Top” pattern and a bearish movement afterwards. It’s likely that the market is going to reach a support at 1.1273 near the up-trend line. If we see any kind of pullback from here, then a new stage of bullish rally will be possible, so we should keep an eye on a resistance at 1.1376 .

As we can see on the one-hour chart, the pair found a resistance at 1.1376, which led to the current decline. The price is likely going to achieve a support at 1.1259 in the short term. If sellers be stopped here, then buyers will have an opportunity to come back to the market. If so, a support area between the levels 1.1364 – 1.1376 is going to be reached soon.

More:
https://fxbazooka.com/en/analitycs/show/8445

 

[riki143]

Forex Analytics

GBP/USD: "Double Top" stopped the rise
31 March 2016
Sergey Logachev

There's a “Double Top” pattern, which led to the current downward movement in a range of support zone 1.4343 – 1.4305. It’s likely to see the market even lower, so a support area between the 89 Moving Average and the level at 1.4282 is probably going to be reached soon. If a pullback arrives, then it'll be a chance for bulls to come back to the market. If so, they are likely going to try to achieve a resistance area at 1.4436 – 1.4502.

The price has been declining since a resistance at 1.4468 was reached. Moreover, we've got a “Double Top” pattern as well, so the pair is likely going to get a support at 1.4259. If sellers be stopped here, then buyers will probably try to reach a resistance area at 1.4436 – 1.4468.

More:
https://fxbazooka.com/en/analitycs/show/8446

 

[riki143]

Forex Analytics

EUR/USD: "Three Methods" indicates a path
31 March 2016
Galina Svetlova

The pair has been rising and we've got a possible “Three Methods” pattern in progress. At the same time, it’s a likely possible to see a bearish pattern at the nearest resistance line. If so, a local downwards correction is going to begin. As we can see on the Daily chart, yesterday’s candle closed above the 144 Moving Average, so today's candle is likely going to end at the nearby resistance line.

We've got a bullish movement on the one-hour chart. The 13 Moving Average acts as a support, which brought a pullback a couple of hour ago. Yesterday's “Harami” pattern wasn’t confirmed, so bulls have an opportunity to continue their rally until any bearish pattern arrives.

More:
https://fxbazooka.com/en/analitycs/show/8452

 

[riki143]

Forex Analytics

USD/JPY: "Hammer" points to a possible correction
31 March 2016
Galina Svetlova

The price has landed on the nearest support line. We haven’t got any reversal patterns so far, but the last bullish candles could be a sign for a local upward correction. If we see a pullback from the upper Moving Averages, then the price is likely going to decline again. As we can see on the Daily chart, here's an “Engulfing Bearish” on the 13 Moving Average, so today's candle is probably going to be a bearish one.

The main trend on the one-hour chart is bearish, but we've got a “Harami” and an “Inverted Hammer” at the local minimums. At the same time, the price hasn't broke the highs of two “Three Methods” patterns, so the possible rise is likely going to be just a local correction.

More:
https://fxbazooka.com/en/analitycs/show/8453

 

[riki143]

Forex Analytics

EUR/USD: buy target – 1.1500
31 March 2016
By: Dmitriy Chernovolov

-EUR/USD approaching resistance level 1.1380
-Next buy target – 1.1500

EUR/USD continues to rise inside the (c)-wave of the minor ABC correction 2 from the start of this month. The active (c)-wave earlier reversed up from the support zone lying between the support level 1.1150 and the 38.2% Fibonacci correction of the previous sharp (a)-wave. The price today broke above the resistance level 1.13420, which stopped the aforementioned (a)-wave.

EUR/USD is currently approaching the resistance level 1.1380 (which stopped the previous intermediate ABC correction (2) in February). If the price breaks above 1.1380 – the pair can then rise to the next buy target at the strong resistance level 1.1500.

More:
https://fxbazooka.com/en/analitycs/show/8454

 

[riki143]

Forex Analytics

NZD/USD: buy target - 0.7000
31 March 2016
By: Dmitriy Chernovolov

-NZD/USD broke pivotal resistance level 0.6860
-Next buy target - 0.7000

NZD/USD recently broke above the pivotal resistance level 0.6860 (which had stopped previous waves 3, (ii), (A) and (i), as can be seen from the daily NZD/USD chart below). The breakout of this resistance level accelerated the active minor impulse waves (iii) and 3 – which belong to the intermediate (C)-wave from the middle of January.

NZD/USD is likely to rise further in the active impulse waves 3 and (C) toward the next buy target at the round resistance level 0.7000. Buy stop-loss can be placed at half the daily ATR (Average True Range) below the aforementioned price level 0.6860.

More:
https://fxbazooka.com/en/analitycs/show/8455

 

[riki143]

Forex Analytics

Forex trading plan for April 1
31 March 2016
By Kira Iukhtenko

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Fed’s dovish comments at the beginning of the week worsened the market sentiment towards the US Dollar. On Thursday, increased unemployment claims added pressure to the greenback ahead of the most expected release of the week – March labor market data on Friday. We believe the US currency could get a short-term bullish impulse from the improved average hourly earnings reading, but the mid-term forecast remains bearish.

EUR/USD extends the upside, reaching 1.1300 on Thursday. A pullback could happen from these levels, but next week we target at least 1.1500 for the pair. Key support is seen at 1.1300.

GBP/USD reversed from the 1.4500 resistance, showing unwillingness to break above the potential “head-and-shoulders” neckline. Daily candlesticks on Wednesday and on Thursday are a great illustration of the growing bearish pressure. However, on Friday the pair could get a short-term lift from the UK Manufacturing PMI reading (forecast – upbeat).

Meanwhile, USD/JPY stepped down to 112.15. Break below 112.00 could open the way to 110.00 next week. AUD/USD has finally reached 0.7700 and remains strongly bullish. China’s manufacturing indices on Friday could serve a perfect trigger for a new rally.

More:
https://fxbazooka.com/en/analitycs/show/8457

 

[riki143]

Forex Analytics

EUR/USD: "Pennant" strengthened bulls' pressure
1 April 2016
Sergey Logachev

The price has found a resistance at 1.1409, which led to the current correction. Therefore, in the short term it's likely that the market is going to achieve the next upper levels such as a resistance at 1.1436. If buyers be stopped here, then a downward correction will have a chance to begin.

We've got a “V-Top” pattern on the one-hour chart, so the price is declining. Considering a possible “Pennant” pattern, bulls are likely going to reach a resistance at 1.1409 – 1.1436. If we see a pullback somewhere from here, then the pair will probably start a correction towards a support area at 1.1364 – 1.1341.

More:
https://fxbazooka.com/en/analitycs/show/8461

 

[riki143]

Forex Analytics

USD/CHF: sell targets - 0.9550 and 0.9500
1 April 2016
By: Dmitriy Chernovolov

-USD/CHF broke support zone
-Next sell targets - 0.9550 and 0.9500

USD/CHF recently broke below the support zone lying at the intersection of the pivotal support level 0.9670 (which stopped the previous intermediate (C)-wave in the middle of February, as can be seen below) and the support trendline of the wide daily down channel from the end of last November. The breakout of this support zone accelerated the active minor impulse wave 3- which belongs to the intermediate (C)-wave of the primary ABC correction ②.

USD/CHF is likely to fall to the next sell targets at the support levels 0.9550 and 0.9500 (low of the previous correction 4 from last October). Strong resistance now stands at 0.9670.

More:
https://fxbazooka.com/en/analitycs/show/8463[/IMG]

 

[riki143]

Forex Analytics

NZD/CAD: buy target – 0.9050
1 April 2016
By: Dmitriy Chernovolov

-NZD/CAD rising inside intermediate impulse wave (3)
-Next buy target – 0.9050

NZD/CAD continues to rise inside the intermediate impulse wave (3) – which started earlier – when the price reversed up from the support zone lying between the support level 0.8800, lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous sharp intermediate impulse wave (1) from the middle of September. The upward reversal from the aforementioned support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing.

NZD/CAD is likely to rise further in the active impulse wave (3) toward the next buy target at the resistance level 0.9050 (which reversed the price sharply earlier this week, as can be seen below).

More:
https://fxbazooka.com/en/analitycs/show/8464